Guaranty Agreements :

A guaranty agreement is a legal document that should be reviewed by an attorney.
Over the past few years many commercial tenants had a requirement in the lease of a guaranty of performance on the lease and of payment in the event of default.

Often the guaranty did not require notice to the parties of default by the tenant.

Additionally, many times there is more than one guaranty and the terms between each of those signing the lease as a guarantor where never discussed or put to writing.

Additionally, there tax consequences in the event your signed a guaranty and later are called to make payment for the tenant.

In summary, Guaranty Agreements are serious legal documents and before signing you should review your rights, duties and liabilities.

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Kendall Laughlin, Attorney serves clients in the Dallas and Fort Worth (DFW) metroplex, including the cities of Dallas, Allen, Arlington, Bedford, Carrollton, Cedar Hill, Denton, DeSoto, Duncanville, Euless, Farmers Branch, Flower Mound, Fort Worth, Frisco, Garland, Grand Prairie, Grapevine, Greenville, Haltom City, Hurst, Irving, Lewisville, McKinney, Mesquite, North Dallas, Plano, Richardson, Rowlett, Sherman, The Colony, and the following counties: Collin County, Dallas County, Denton County, Grayson County, Hunt County, and Tarrant County.